Other slides in this set

Slide 2

Here's a taster:

Successful Less or Unsuccessful· 1 Devaluation of the pound: Government · 4 1934 Special Areas Act: made £2 million devalued the pound by 20% - helped to boost available to poorest areas in country, aimed to foreign trade, made British goods affordable. revive industry & create jobs, idea was realistic· 2 Cut interest rates (cheap money): 1932 ­ & it could have been great success ­ too small a interest rates cut from 6% (1931) to 2%, aimed scale to have real impact on unemployment, to help those struggling with debt & financial especially the intractable million. loans, encouraged small enterprises & · 5 Protection: Chamberlain already implemented businesses to open as they were more willing to Import Duties Bill ­ 10% duty on foreign exports borrow money from bank ­ repayments less due coming to Britain, National Government wanted to interest cuts, encouraged people to spend. greater protection so they arranged Ottawa· 3 Cut backs: May committee ­ report in July conference, Chamberlain, Baldwin & others 1931 suggested £97,000,000 cut back in hoped British empire would become self- expenditure & £67,000,000 cut in employment supporting economic unit, free trade between benefit, MacDonald & Snowden accepted report dominions & tariff barriers against rest of world, but Cabinet generally rejected it, Snowden dominions (Canada & Australia) feared if free suggested 10% cut backs in unemployment trade introduced to empire their small industries benefit ­ too many people on the dole putting would suffer competition against Britain, unnecessary strain on Government ­ mutiny in Dominions wouldn't accept free trade & didn't Scotland, Snowden changed tax system ­ rich abolish tax on British goods ­ raised tariffs taxed more & poor taxed less (coming off gold against non-British items (small compromise) ­ standard), Government believed less there was such high hopes for protection but it expenditure = less inflation = British goods sold was a false promise. cheaper.…read more

Slide 3

Here's a taster:

Factors out of Government control that boosted British economy· Late 1930s there was a housing boom ­ led to industries such as electricity beginning to prosper well (towns like Jarrow).· Increase in motor vehicle industry ­ employing 400,000 people.· Rearmament began when Hitler invaded the Rhineland 1936 ­ these factors were more important that Government actions.…read more